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for future bailouts. but making large depositors pay will hurt the wider economy, too. and that's the big question. yes, cyprus has been saved from bankruptcy and will remain in the euro zone, but at what price? some are estimating that with the reduction in the banking sector and with higher taxes, the cypriot economy could shrink by 10%. with years of hardship. and that is the big unknown. will the rescue end uncertainty or will cyprus end up like some of the other bailed out countries, with a lost generation, facing recession and job losses? >> pretty grim prospects in cyprus. and in a speech to the cypriot people tonight, the president called the deal painful but he said it was the best he could get. for more on the reaction there, i spoke to the bb's tim wilcox. we have now some clarity on the deal that cyprus has struck with europe. does it look like the island's actually going to be worse off because of this? >> it's instinct because i've just been talking to one of the m.p.'s who voted against the proposals last week, which was going to have a 10% levy or hair cut on deposits over
cyprus get to this point? >> it is a small country. its economy is based on three things. tourism, a very pleasant place for people to go. shipping, as befits an island. above all, what is euphemistically called finance. in the 1990's and early in this century, what the banks in cyprus did was offer themselves around the world as a wonderful place to come and make a deposit. we will convert whatever currency you have into euros, which is a very good currency to have. we will pay you an unusually high interest rate and ask no questions. this is often called good banking. they got a lot of deposits. depending on the estimates you believe, the total deposits in the bank of cyprus or five to eight times larger than the total gdp of that economy, which is an absurd situation. and those banks in cyprus took all of those deposits and they did what banks are supposed to do, find prudent, safe, non- risky investments. like all the banks and the last 20 years, they failed. they found that investments. they did not to prudently. the banks fell apart. the whole cyprus economy, already impacted by thi
say that cyprus' economy is going to be in significant peril in the future. >> warner: and i gather a lot of these big depositors are russians, other foreigners? how much is known about them? >> a lot of the deposits particularly at the major banks are certainly from russians. cyprus has, you know, a long history with russia. in recent years, we had a lot of russians coming to this island basically sort of seeking a safe haven for their money, given some of the instability in russia. what has happened, however, is that that has drawn suspicion over time that, for example, some oligarchs or even some money of questionable origin is in the banking system. that's one reason why european leaders and particularly chancellor angela merkel wanted to take a much closer look at cyprus' banking sector as a part of this whole bailout. >> warner: how fundamentally will the cyprus economy be restructured or changed? >> the cyprus economy basically lives and breathes on finance. ever since it joined the european union it has shifted away from an economy that had produced a lot of goods over many
safe financial move it could hurt young adults and economy as a whole. brenda buttner, anchor of "bulls and bears." i guess it's a story here is that young people are avoiding debt and not getting sort of themselves mixed up in some of these predatory practices that young people have been the target in the past. so had a part of the story is good, right? >> absolutely. during the great recession everybody stopped using their credit cards but particularly those under 35. especially undergraduates as you brought up. in a sense that is good, whenever you hear from a personal financial expert, get some extra money, pay off your credit card debt, but having no credit and misusing credit are two different things and could have potentially difficult implications for our economy and for these young adults. >> rick: i remember my mother telling me, go and get one credit card, buy something you need but get your books and put it on the card and then pay it off in full. that is the way to start establishing a good credit? >> who is your mom. eileen -- that is good advice to your son. that is exact
. no doubt about that. it could hurt the economy by ten gdp points. joblessness but the banks were going collapse anyway. the economy would be in shambles anyway. there is concern that the depositors are hurt, because what is happening is if you have more than 100,000 in euros in the bank, those are targeted to help with the bail-out. $4.2 billion. a lot of that is from russian. a lot of -- he would cry about that. this is a good thing. bail-in, instead of bail-out. you take in a model where you are forcing the bank to save itself. the shareholders, bondholders and go to the uninsured depositors. this is a lesson we might take here. rather than the taxpayers bail-out you have the bail-out within the institution. i understand the pain but i don't think it's a bad idea. >> you float the idea of going after the saving account. it doesn't rez nay with many folks. >> but they weren't insured. they weren't insured over $100,000. here they aren't over $100,000. you know, you know when you put something in a bank like, that i covered the savings and the loan crisis in '80s. people were hurt in t
and the republicans in congress balanced the budget, but that's because the economy was growing in 1990s. i was there, i know it. it was balance -way before anybody expected it to be balanced. there is nothing that is particularly important about balancing the budget. it sounds good, but you don't really want the budget to be balanced if you have a lot of people who are unemployed or under utilize examines city. there's no reason to balance the budgets on the backs of the poor and if it means sacrificing investments in education job training, research and development, infrastructure. those are investments in future growth, the future of our country. we don't want to reduce those investments for the sake of some totem which is called balanced budgets. >> you pointed out to the gop leadership is held hostage by the tea party. when john boehner said we don't have a long term debt problem in this country it seemed he and president obama agreed to tone down the rhetoric to calm people a a bit. were you encouraged by that statement? >> i am encouraged in the sense that there is not a long term debt problem
stuart: the highlight reel. all about cyprus. cyprus, they'll out approved. >> the economy is likely to get worse. >> continuation of stealing what has already been stolen. they will not be happy. >> they are devastated. that is not what cyprus is or ever was. >> europe does not have the mechanisms in place that the united states has to manage a currency or a banking system. >> watch the euro. that affects all of us. stuart: italian banks have been halted in trading. charles: yes. stuart: why? charles: they are worried. these stocks are plummeting. stuart: the dutch finance minister said the cyprus situation is a good template for other european countries. they have reached into private bank accounts, taken the money out and used it to finance the bailout. that is what everybody wanted to avoid and now the dow is down 43 points. >> that italian banks are frozen because now the fear is they will have their money taken out. stuart: the dutch minister is now staying this could prompt a euro zone bank restructuring. that is why the dow is now down 46 points. you have a 80-point
at home, what do we do about our economy so we don't become a cyprus isn't senate passed its first real bottoming proposal in more than four years. but many americans are worried that lawmakers are kicking the can down the road. the majority say they are slightly less nervous about the economy than they were in 2010. an overwhelming number of us think the number-1 challenge to our economy is the continuing, mounting debt. we have a former media spokesperson for george w. bush and a democratic political consultant to hillary clinton for president. mersaides and richard, welcome to both of you. americans are sick of this. look at the debt clock this. thing keeps whizzing up. the debt is mounting. every sunday, i show this. it has gone up another trillions, it seems, theres and multi-millions. mercedes, how do we stop that in its tracks and make it go the other way? >> we can't stop it when you have the budget plan that senator murray has pushed through. 50 of all, because it has such little support from american voters. for example, we saw a poll saying that only 28% of likely voters sup
in a trillion dollars. you would still be left with a deficit and you would wreck the economy. martha: interesting lesson. stuart, thanks very much. we'll be watching it throughout the day as i know you will. let's look at bigger picture of europe's debt crisis. five countries needed bailouts from the european central bank and imf. greece, spain, ireland, portugal as stuart mentioned. germany the fifth biggest. great britain at number eight. france with the 9th largest. italy at number ten. they all shrunk in the last quarter of last year. europe is basically contracting. the eurozone is losing huge numbers of jobs. a record 19 million people are unemployed. it is a tough picture and one we need to watch closely here at home. bill: sure do. no telling when that thing will get straightened out. >>> more rough water for carnival cruise lines. another disabled ship of vacationers, limping back to port. legend arriving yesterday. a leading senator calling for a passenger bill of rights. what would be in that bill? peter doocy live in washington. what would this bill of rights do, peter? >
's on somewhat shaky ground, the economy is bad, and part of the problem is the refugees are a huge pressure point as the king sort of eloquently said today. few of us saw the foreign minister this afternoon who said it's almost as if-- he said it's as if another eight or nine, the king said 10% has been added to our population. the foreign minister said eye asked him the question the king was asked, would you ever shut your doors? and he said we just can't do that. but i have to say my nightmare scenario is i get a call at 3:00 a.m. and i'm told there are 50,000 refugees at the border, what do we do? >> margaret, just to wrap up quickly, we know the bulk of the president's time was spent in israel, trying to patch up relations there, but also calling for new thinking on the part of the israelis and palestinians. have you picked up reaction yet to what the president was saying? >> jied, in the public, especially in the left in israel, there was great-- great joy at what the president had to say about resolving the conflict. but the reaction from people sort of in the political circles was a
. by in large, of those 11 million, they're contributors to our economy. if we get it right and finally fix our broken system, we're going to have 11 million people contributing to our economy and it will be the biggest boone we could ever imagine to this economy. >> speaking of that, the economy and this economic impact, as you know, it's obviously a huge issue, and according to the center -- a study by the center of american progress, passing comprehensive immigration reform this year would create 200,000 jobs a year for the next ten years. it would add $1.4 trillion to our gdp, and it would add almost $800 billion in personal income. so the american people are going to pay a pretty heavy price if we don't get immigration reform passed this year and there's certainly an economic argument to be made. do you think that your colleagues on capitol hill, particularly those who are still resistant, understand how high the stakes are? >> i'm glad that these studies are being done. i think these studies are actually telling the truth. at the same time, unfortunately, i think the people afraid to vote
increases, even some stimulus money to try to get the economy going. but it's significant that they're fighting at a lower level of intensity and turmoil. notice that the congress left for easter break without a crisis over a government shutdown. there was no crisis over potential debt limit, and government default earlier this year. could come back this summer but so long as it lasts, that's calming for the markets and good for the economy, and it may, lester, leave some space still for a compromise in which democrats would agree to changes in cuts in medicare and social security, and republicans would come up with a little bit more tax revenue, lester. >> all right, john harwood tonight, thank you. >>> president obama wrapped up his four-day visit to the middle east today, after helping israel and turkey end a three-year diplomatic dispute. that, in turn, will help the region deal with the civil war in syria. before he left today, the president turned his attention to the past, visiting jordan's ancient city of petra, one of the world's most celebrated archaeological sites. with t
of family relationships than by the parents' sexual orientation. >>> coming up, when will the economy be healthy enough to stand on its own? according to fed chief ben bernanke, not for a while. we'll tell you all about it, coming up next. [ bop ] you can do that all you want, i don't like v8 juice. [ male announcer ] how about v8 v-fusion. a full serving of vegetables, a full serving of fruit. but what you taste is the fruit. so even you... could've had a v8. glass on floors. daily chores. for the little mishaps you feel use neosporin to help you heal. it kills germs so you heal four days faster. neosporin. use with band-aid brand bandages. neosporin. i go to angie's list to gauge whether or not the projects will be done in a timely fashion and within budget. angie's list members can tell you which provider is the best in town. you'll find reviews on everything from home repair to healthcare. now that we're expecting, i like the fact that i can go onto angie's list and look for pediatricians. the service providers that i've found on angie's list actually have blown me away. join toda
question. if we can't economy commitment and assurance which i've made publicly to the american people and to you privately that all options remain on the table, including the prospect which the president, charlie, does not want to do of unilaterally using military force to deal with iran's putative nuclear program. >> rose: so therefore the question is do you have any reason to doubt the president that he believes all other options have failed and iran is about to a year from now get a nuclear weapon and the ability to deliver it that he would not act? plunging markets notwithstanding the >> rising oil prices, a threat to american economic recovery, a generational war with iranians, all of that notwithstanding i believe that if it's unmistakably clear and this that the iranians are breaking out to acquire aweapon that this president will, in fact, use military force. it's not my preferreded option. it clouds the whole option of what the end state would be but i believe, yes he will use military force. >> rose: you agree? >> i think so, too. it's not just about the israelis as well. it
contributes to the local economy, $2.3 billion. so, the effect of the furloughs, as a result of sequestration, how do you expect that to play out? >> well, i can tell you that it's impacting my friends, my neighbors, it's impacting families throughout southern illinois. you're looking at people giving up 20% of their pay, and that's going to have a profound impact on the local economy. you know, those people who aren't getting a full week's pay for a full week's work won't be buying new cars. they certainly won't be buying new houses. and they won't be going down and getting that widescreen tv, or maybe going out to eat. >> right. >> and so, that's going to have a ripple effect throughout the economy. i'd like to point out, too, it's not just scott air force base. you know, we have federal prisons, and -- who are facing furloughs. that's a profound impact not only on the economy but also on the safety of those other prison employees. we have the shawnee national forest, the largest national forest in illinois, very significant impact. >> yeah. well -- >> we're losing three air control towers.
it again. cyprus is only the third smallest economy in the euro zone. if it has to devalue its currency, then do we have a domino fall and a fall in other places, spain, italy, and then do we see the whole thing going over with greece and the rest? >> and impacts us, and people may begin to take some of their money out of stocks here at home. >> what happens, people flee, basically, to quality. the dollar go up and treasuries being bought and see people getting out of risky things such as stocks. >> harris: you're the silver lining person on fox report weekend. you always find it for us and say later on in the week no matter what happens, if we feel a hiccup, if we don't, because of this week and cyprus and european problems over there, we have some good news coming? >> plenty to move the markets this week, and we have news on housing, both on prices and pending home sales and prices across the country and he we also have consumer confidence which has been quite high. so the housing rebound is something that's been pushing the bulls and they have been very resilient. we've seen them run
or the economy. this is something that will come up again with the debt ceiling fight this summer. but if you look at what the senate just passed, this is as christina said, they want to raise taxes. >> guys, let's switch to gun control here. christina, there's mention of the push for the gun control measures. a new gun control law was signed into law described as tough but does not ban semiautomatic assault weapons. here's the governor today. >> i get the feeling right now around assault weapons is that it's hard to define what assault weapons is, whether the ten-year ban, the federal ban made a difference. >> so colorado can't pass a ban on semiautomatic assault weapons. do you take that as a sign it's not going to pass in any state? >> well, it's really hard to know. every state is different. but there is a huge question here. lawmakers feel a lot of pressure from gun lobbyists, gun rights groups and this is why the effort is so interesting. he says he's going to spend $12 million to really look at senators that might be persuadable, particularly those with strong gun rights cultures in th
to to see where is the economy going. what got me excited about mark zuckerberg coming out, not only is he interested in high tech visas, he believes we should create path to citizenship for the 11 million undocumented in this country. the reason that's important, he recognizes that short of pathway to citizenship, what happens is we have 11 million residents living in our borders creating two classes of citizens in this country and that's not good for anybody. the fact that they're flexing their muscle, recognize their customer base, recognize the majority of americans, regardless republican or democrat or independent -- >> the naturalization ceremony and debate as we think of new immigrants come to the country becoming citizens of the united states, you look at the path to citizenship, there are several speed bumps that have gotten in the way. what we thought after the election was going to be at least from the outside looking in an easy piece of legislation moving forward, what's really in the way or is this just window dressing and they're going to get it done right after the break? >>
and the economy first and managing our debt wisely and responsibly. >>> what will you say in response to the rep criticism and clearly paul ryan's manifesto, when his budget shows the contrast, what do you say to their criticism that you don't resolve the spending cuts, that you don't deal with the debt adequately, just to play devil's advocate for a moment? >> sure. firstly, we do cut spending in our budget, but if you look at the ryan republican budget, it calls itself balanced, but it does it? just a horrendous ways to families across our country, who have been watching their kids go to school and struggle because of the cutbacks there, people who can't get a job today, people who want to have a strong country in the future, know that the investments we make in education and the infrastructure are devastated in the ryan budget, and he makes false promising that could be kept about reducing the tax rates. the only people that are protected in the ryan budget are the wealthiest and the largest corporations. they tell the rest of america, you are responsible for managing this debt that we have g
did he do? can you elaborate? >> well, he began thinking about the issue of corruption and the economy and political life in the 1990s when argentina was going through an historic economic meltdown. basically he drew the conclusion that corruption was in some ways the worst kind of sin. his argument is that most sinners at least carry the hope for forgiveness because on some level they recognize they're doing something wrong, whereas people who were on the take who have been bought off feel like they've won the lottery. in this book, it was his attempt to sort of puncture their conscience and say, look. this idea of pursuing individual gain at the expense of the common good is only going to carry you so far and eventually whether it is in this life or the next, you're going to have to answer for this behavior. it is a position that was of course very close to him, near and dear to his heart because of this situation in argentina. i would expect it is going to continue to be a mayor theme of his papacy. >> will it give us insight into how this new pope will deal with say corruption or e
to ask for money. but if they don't get a deal their economy collapses. businesses can't pay suppliers or employees if the banks stay closed. when it happened in argentina in 2001, the people there were reduced to bartering for food. lester? >> michelle caruso-cabrera tonight. >>> back in this country the fight over guns heated up today with two of the most visible figures in that debate arguing their positions on morning television. nbc's kristin welker has more on that from the white house. >> reporter: with stiffer gun laws facing an uncertain future in congress, new york mayor michael bloomberg squared off against national rifle association's ceo wayne la pierre on "meet the press" today. >> i think i've spent $12 million on running ads. >> he can't buy america. >> tell didn't don't protect criminals. >> reporter: bloomberg announced a $12 million campaign aimed at convincing swing senators to support universal background checks. >> i've owned a gun all my life and i'll fight for my right to keep it. background checks have nothing to do with taking guns away from anyone. >> reporte
. as your life changes, fidelity is there for your personal economy, helping you readjust along the way, refocus as careers change and kids head off to college, and revisit your investments as retirement gets closer. wherever you are today, fidelity's guidance can help you fine-tune your personal economy. start today with a free one-on-one review of your retirement plan. the people of bp made a commitment to the gulf., and every day since, we've worked hard to keep it. today, the beaches and gulf are open for everyone to enjoy. we've shared what we've learned, so we can all produce energy more safely. bp's also committed to america. we support nearly two-hundred-fifty thousand jobs and invest more here than anywhere else. we're working to fuel america for generations to come. our commitment has never been stronger. watch this -- alakazam! ♪ [ male announcer ] staples has always made getting office supplies easy. ♪ another laptop? don't ask. disappear! abracadabra! alakazam! [ male announcer ] and now we're making it easier to get everything for your business. and for my greatest tri
, an international launch industry that's far from robust. now, our economy depends on the ability to create and instantly distribute vast amounts of data around the planet. space-based platforms have become a vital link in the national and global economies, and they're essential to the prediction of weather, navigation in all forms of transportation, the operation of power grids, the completion of local and global financial transactions and communication to mobile platforms whether they be on land, sea or air. commercial satellite industry also plays a critical role in supporting government operations. commercial satellites supply the majority of communications in afghanistan and iraq. today our satellites are still flying almost all of the dod's unmanned aerial vehicles, and we're providing the vast majority of the navy's communications at sea. to address the challenges that i mentioned earlier, the leading space operation, operators have gotten together on a number of complex cooperative projects, probably the most significant of these is the space data association or sda. the formation o
buffenbarger sharpening america's edge on the global economy. find more by going to go aiaim.org. good to have you with us and happy to welcome back into the studio this morning one of our good friends from huffington post, keeping his eye particularly on the economy and it plight of working class americans, arguments you are delaney. you are looking good this morning. >> thanks, bill. >> ready to go. >> normally in a tie though. >> i am wearing a tie. why are you wearing a tie? i don't wear a tie. you are wearing a tie. >> i usually wear a tie. >> okay >> bill: not for this radio show no it's a matter -- it's become a matter of principal. authur authur, we are now what? three weeks, is it? >> yeah. >> how bad is it? >> doesn't seem bad at all. >> well, when it first started, that first day, all of the news cameras were at the airport. whoa there was no delay here for obama. now, people are getting laid off. for them, it sucks. for everybody else potentially, it's going to start to sink in. >> is it? do you see signs of it now? for example, i saw the ot
the american academy of pediatrics. stay with us. (train horn) vo: wherever our trains go, the economy comes to life. norfolk southern. one line, infinite possibilities. it's lots of things. all waking up. connecting to the global phenomenon we call the internet of everything. ♪ it's going to be amazing. and exciting. and maybe, most remarkably, not that far away. we're going to wake the world up. and watch, with eyes wide, as it gets to work. cisco. tomorrow starts here. >>> welcome back to "starting point." no plea deal for major nidal hasan, charged with killing 13 people at the ft. hood military base. he was willing to plead guilty under certain conditions, but the court-martial judge rejected those. >>> the american academy of pediatrics is coming out in support of same-sex marriage. the academy announced its support in a ten-page report. it studied scientific literature from the past four years and found that children's well-being is affected much more by the strength of family relationships than by the parents' sexual orientation. >>> nbc says it is building a new studio in new york
economy. >> americans were according to polls, americans are strongly in favor of gun can control. recent poll, favor background checks. more than half favor banning assault weapons. over half favor banning large magazines. >> that's the reason i think the president is glad to be away from washington, away from congress. there is a level of dysfunction here. the power in this institution is enormous. it takes away from common sense steps. you have the filibuster. and senator reid felt, as he counted votes, he wouldn't be able to keep the assault ban weapon in the bill and in the house, majority rules. that's mr. boehner. and it is up to him whether he puts legislation on the floor. now the other dynamic we have is that the country is in favor of it. but in the a lot of these districts, the folks who represent those districts, those people are solidly against it. so you have this situation where the minority, with this gerrymandering actually is vetoing what in effect is i think why the popular efforts common sense steps on guns. >> congressman, i think if it were widely popular, you would
a banking collapse that could impact other world economies. right now the european union chief is trying to get a last-minute deal together. >>> on tuesday and wednesday the u.s. supreme court will hold hearings on same-sex marriage challenges. proposition 8 and the defense of marriage act. people are already camping out mere the supreme court in washington to get in to the hearings. on thursday, we will find out which cars get a world car award. winner in power categories announced at the new york international auto show. shout-outs go to best all-around, best performance, green cars, and best design. that's going to do it for me. see you throughout the week p much more straight ahead with don lemon. >>> no golf for you. i want to you take a look at this. this is a pga course in orlando where tiger woods was leading before mother nature put the smackdown on it. the weather is severe in many parts of the country today. ridiculous storms here. blizzard there. live from snowy dayton, ohio in just a moment. speaking of tiger, if he wins tomorrow, he will be the new number one golfer in the
: what does this do for oakland's economy? >> last year the economic impact was about $4 million. we expect it to be a little bit more this year. and also there is always the charity piece. number of charities are involved once again. we expect the race probably in the neighborhood of $400,000 for charity. >> reporter: you've got people coming here taking part in this race from all over the down from industry and the united states. the full marathon is the first race that will kick off here. that will happen a half hour from now at 7:30. we'll be here for that. for now we are live in oakland alex savidge ktvu channel 2 news. >> thanks. we do have more information about the race on our website just two to ktvu.com and click on hot topics. >>> secretary of state john kerry makes a surprise trip to baghdad. kerry has been meeting with the leaders with other middle eastern nations. earlier he traveled to saudi arabia and egypt. last week he accompanied president obama to egypt. this is kerry's first trip to iraq after becoming secretary of state. >>> pope francis celebrated his first pal
really matters to what is happening in europe. cyprus, 0.2% of the euro-zone economy. it's banking sector accounts for mostst economy. what is happening there has wall street's attention because of the precedent it may set for other struggling nations. also, russian business has about $19 billion in cyprus. that's according to mootiedy's. wall street happy with the plan in place right now. it's also the last week of the first quarter. check out your investments this morning. if you haven't looked in a while the you'll be pleased. the s&p 500 is up more than 9% over the first three months of 2013. you can see the rally took off from november of last year. 9% will be a solid return for the entire year. but it's happened only in the first three months of this year. the s&p 500 is up 11% over the past year overall. over and over, when is this going to end? that is nearly impossible to preticket. there is one ratio that wall street looks to and it shows that prices are still fairly valued right now, maybe even cheap at least historically speaking. look at this. this is something that measures
to bob beckel. celebrity apprentice one gets fired and china's emerging economy. they are about to over take us in 2018. ben carson will close the show. he's john hop kens neurosurgeon who may be our next president. see you soon. look what mommy is having. mommy's having a french fry. yes she is, yes she is. [ bop ] [ male announcer ] could've had a v8. 100% vegetable juice, with three of your daily vegetable servings in every little bottle. >> good morning. it is 8 minutes before the hour. one time domestic terrorist and friends to the president bill ayers a visiting scholar at minnesota state university. school administrators are not concerned with his radical past. take note for this, you will soon be able to use your tablet and e readers during cakeoffs and landings. they will announce the new policy by the end of the year. cell phones will still not be allowed to be used during kickoff and landing. >> speaking of flying travelers beware. you can be aware you can be a prime target for scammers who want your money. courtney scott is here to let us know what we need to know. thank you
and they face an economic depression. there are some forecasts that cyprus will lose 20% of its economy. that is a depression. so those two are losers. the russian mob and the peel of cyprus. the winner here so far looks to be germany's angela merkel. she has forced the cypriots to pay up as a price for staying in the euro. they won a major victory getting that money out of cyprus and beating back the russians. there you have it. heather: so you said the russians basically lose their shirts over this. do you think they will take this lying down? what can they do? >> no, they're not. what they can do is up in the air but remember russia supplies a lot of energy to western europe in the form of natural gas. this fall it is possible, purely speculative it is possible some of those energy supplies will be squeezed. russian mob does not losing billions of dollars. vladmir putin, good friend with some of the oligarches, he is not happy. heather: we're here in the good ol' u.s. of a, so any impact on us here? >> yes. minor leagues but we're breathing a sigh of relief. when the stock market ope
depositers will be spared but the little guys will suffer another way. the economy here is set to slow down. here is what we felt out on the streets of nicosia hire today. you might get some cash out of atm. in cyprus and there might be a bailout in place but in fact it is a holiday in this country. we talked to the folks here and their mood is definitelily not sunny. old money. you think that is better than the new money, the euros because of what happened? >> yes. because, before we believed europe is with us. now it is not with us. >> all of our money but this is also part of the deal, you know. >> it's too bad. >> it's bad. >> why? >> we're suffering. >> reporter: the president of cyprus is set to go on tv tonight. his government is being blamed for a lot, including his country into a bit of a tax haven for rich russians and banks are reportedly set to finally reopen again on tuesday but restrictions are in place. the big fear is, there will be a run on those banks. jenna, what is the u.s. takeaway from all this. well ally and strong trading partner europe is still in place. that is a g
skidding by in this tough economy. >> keith ellison, thank you very much for coming in. >> thank you. >> democratic congressman from minnesota. >>> up next, a surprise for president obama. what our latest poll shows about his job approval. >>> then, an insider from the bush white house is spilling the beans about the march to war in iraq ten years ago. the former bush speech writer is here live. zap technology. arrival. with hertz gold plus rewards, you skip the counters, the lines, and the paperwork. zap. it's our fastest and easiest way to get you into your car. it's just another way you'll be traveling at the speed of hertz. bob will retire when he's 153, which would be fine if bob were a vampire. but he's not. ♪ he's an architect with two kids and a mortgage. luckily, he found someone who gave him a fresh perspective on his portfolio. and with some planning and effort, hopefully bob can retire at a more appropriate age. it's not rocket science. it's just common sense. from td ameritrade. >>> if there was ever a second term honeymoon, it looks like it's over. president obama's j
&p capital iq is with us. good to see you, sam. cyprus, a very small economy. one of the smallest in europe. but how could those shockwaves kind of cross the waters and affect the americans here? >> well, i think basically because of the uncertainty that could come from them and what kind of an impact we could see that resonates in italy, in spain, in portugal because if we find that a lot of the depositors are likely to get hit with a penalty, a tax of up to 7% if they have less than 100,000 euros, then the worry is that the smaller depositors in these other countries would be hit as well and that would be a negative. >> if they do reach a deal what kind of reaction do we spent from the markets? >> i think we get a sigh of relief that cyprus would not end up leaving the euro, that we would not have a contagion move into these other peripheral nations around the mediterranean and then wall street could focus on the economic reports that are coming out this week all of which look to be pretty good. >> shifting a gears a little bit, we'll see new numbers this week on something called durable
: wherever our trains go, the economy comes to life. norfolk southern. one line, infinite possibilities. we make meeting times, lunch times and conference times. but what we'd rather be making are tee times. tee times are the official start of what we love to do. the time for shots we'd rather forget, and the ones we'll talk about forever. in michigan long days, relaxing weather and more than 800 pristine courses make for the perfect tee time. because being able to play all day is pure michigan. your trip begins at michigan.org. >>> happening right now, prosecutors in italy making their case before that country's highest court to retry amanda knox for murder. >> the american student has been free since an appellate court overturned her conviction in the deadly stabbing of british student meredith kercher back in 2007. the one-day hearing could also free knox of slander charges which would free the way for her to sue her accusers. cnn's ben wedeman is live in rome with the very latest. good morning, ben. >> good morning, christine. the supreme court began listening to the case of amanda knox
economy. >> we have new details released into prince harry's next trip to the united states, seen here flying a helicopter will arrive may 9 and stay for about a week. harry will visit arlington, virginia, colorado, connecticut, and new jersey and visit troops at walter reed medical center and victims of super storm sandy, but noticeably absent from the royal's itinerary is las vegas and not coming to california. dads, you do not need to lock up your daughters. >> 6:47, new this morning, the dow is up following the cyrus bailout. >> word of caution if you are thinking of taking out a student loan for one of your children. jane king is live in the new york stock exchange with more for us. jane? >> good morning, it is that time of year when student whose is been admitted to college find out how much financial aid they are getting or not. if you borrow do finance a college education, make sure you have a plan to pay off the debt when you take out the loan. cited in the "wall street journal", a company says parents should not borrow more than they can pay back in ten years and avoid plus l
to take for cyprus' economy to recover from this? >> very good question. that's what a lot of people were really worried about whether or not what's happening there could happen in other places. >> we saw in europe seizain was saying hang on this might have longer term implications and reigned back a bit. zain, thanks so much. zain asher there. >>> secretary of state john kerry dropping in to meet with president hamid karzai. announcement coming at a time of tension as you can imagine between president karzai and coalition forces and u.s. forces in afghanistan. >> those tensions escalated this month after a bomb blast in kabul that killed nine people, kerry and president karzai just wrapping up a news conference actually. we'll update you on any developments from that. >>> also in afghanistan today another sign that u.s. involvement there is now winding down. the united states handed over full control of a prison near bagram air base to afghan authority. >> the transfer announced a year ago was supposed to take place within six months, but tensions with president karzai and concerns about
, science, technology, the economy, but going with the president of israel and the prime minister to see a high-tech demonstration. one of which was a robot actually serving matzoh. so there were all sorts of demonstrations on medical advances. israel really has exploded with technology and science here and what the president was trying to say to the young people is, this is a model for the region. now make your democracy work by not being an occupying forceful. >> i thought that was one of the most effective parts of the president's speech. to say, take essentially, take all this negative energy and turn this into something positive. that israel is an economic hub. the palestinians are among the most educated populations in the worldful there is great potential here if these two opposing sides would actually work together. that's why he has been stressing economic development as a possibility. >> now a $40 billion a year mutual trade relationship that dennis ross helped nurture along. thank you, dennis, and i should say nbc middle east adviser in chicago, jeffrey goldberg here. we'll be
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. >> the muslim brotherhood needs us. i mean their economy is going to hell. they have got a real problems. they need imf financing. so we need to engage with them but we also need to stand on our principleses. >> rose: whatever happened to the idea expressed at this table that in an interesting way the responsibility of governing might make islamist parties change. they would face a new reality and that therefore theyould uderstand more than they did when they were outside of power, what it meant. and they would make different choices. >> the answer is that there is no universal-- there is no universal answer for this. because asian is lam with countrieses like indonesia and malaysia is one thing. turkey is another, hezbollah and lebanon, egypt, i agree is yet another so there is not one formula. islam is dirse and it will vary from one country to the other. in some countries, islam is in time will become a pragmatic. in other countries, it would be an ongoing revolution, radicallization. >> we have not been clear enough, john kerry has done this on his last trip but we need to be more cl
in this country, look at our economy, whether or not it's growing or whether or not it's shrinking ab how much we export to other parts of the world, a new report shows that china will overtake the united states as the world's number one economy by 2016. >> jesse: really? is that true? >> well, it's a report from the organization for economic cooperation and development. their forecast differs from other people's forecast which says basically because of china's demographics, they have a lot of people. >> jesse: a billion people, a lot of people to tax. >> alisyn: that's right. so the other prediction said it would be by the year 2020. this puts it four years earlier, by the time the president is leaving office. >> jesse: you could have on obama's watch, president obama, us being downgraded for the first time and lose the title of the number one economy in the world. that's staggering. >> clayton: to be fair to the president, this certainly didn't start under president obama, it started many years ago in china, but also, look, it's easier in china to have this kind of growth when you're doing it o
for the city of new york, he has done a lot on education and the economy. this is a public health issue. you're talking about 7,000 new yorkers who die a year because of tobacco products, 450,000 americans. so, look. i think this is certainly a good step but the mayor is going to have a huge fight on his hands because the tobacco industry has made it clear this is something they'll focus on and they don't back down from fights. >> it is not the only thing he is doing after. the other thing michael bloomberg wants to do is create a minimum price of 10.50 for the pack of little cigarettes and little cigars. he wants to prohibit the redeeming of any coupons for tobacco, require retailers to sell cheap cigars in packs of at least four. i think one of the larger issues out of this obviously is about the role of government in our every day lives when you talk about these kinds of things -- the banning of soda. >> yeah. >> you have to place the calorie counts in restaurants. what do you think about that? that larger issue? >> i mean, certainly in terms of being concerned about health issues and try
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